Perkins & Marie Callender’s Inc., a leading operator of family-dining and casual-dining restaurants, has announced that the United States Bankruptcy Court for the District of Delaware has approved the disclosure statement filed by the Company in connection with its proposed plan of reorganization, subject to the Company filing the final version of the Disclosure Statement with the Bankruptcy Court. Approval of the Disclosure Statement clears the way for the Company to solicit votes from creditors with respect to the Plan.
In connection with approving the Disclosure Statement, the Bankruptcy Court established a voting deadline of October 14, 2011 for creditors that are eligible to vote on the Plan and scheduled a hearing regarding confirmation of the Plan for October 31, 2011.
Jay Trungale, President and Chief Executive Officer of the Company, said, “The approval of the Disclosure Statement moves us a significant step closer to completing our restructuring process and will enable us to pursue confirmation of our Plan at the end of October. We expect to emerge from our restructuring process later this year in a significantly strengthened financial position, and we continue to appreciate the support of our employees, customers, suppliers and other parties as we complete this process.”
Additional information about the Company’s reorganization, the Disclosure Statement and the Plan may be obtained by visiting www.PRKMCRestructuring.com.